Arab African International Bank's net profit jumps by 37.28% during 9M-22

Arab African International Bank-AAIB revealed that its net profits have jumped by 37.28% to stand $149.159 million during the first 9 months of 2022, compared to $108.643 million during the same period in 2021 with an increase of $40.516 million, according recent financial statement published on its official website.

Meanwhile, the bank’s net profit before income taxes jumped to $211.497 million during the first 9 months of 2022, compared to $168.009 million during the same period in 2021, achieving a growth rate of 25.88%, and an increase of $43.488 million.

Moreover, the bank’s total loans portfolio increased by 1.07%, to record $5.529 billion at the end of the third quarter of 2022, compared to $5.471 billion at the end of 2021with an increase of $58.322 million.

Furthermore, the bank’s deposit portfolio has seen a relative increase of 0.22%, to record $10.188 billion at Q3-2022, compared to $10.165 billion at the end of 2021 with an increase of $22.127 million.

However, the bank’s asset portfolio has fallen slightly to stand at $14.229 billion at the end of last September, compared to $15.344 billion at the end of 2021.